Ashley launches Newcastle takeover

Billionaire businessman Mike Ashley has bought a 41.6% holding in Newcastle to launch a takeover bid.

St James´ Holdings Limited, a company set up specifically to buy shares in the club, has acquired 55,342,223 shares at 100p each from Wynyard (Guernsey) Limited, Cameron Hall Developments Limited and Cameron Hall Developments Limited Executive Pension Scheme, the holdings of Sir John Hall and his family.

Stock Exchange rules mean that the company now has to make a cash offer for the remaining shares, around 29.8% of which belong to chairman Freddy Shepherd.

Report author of article

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of
GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article.
GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.